ZKasino Scam: Whiterock Founder Arrested with Over $30 Million

The crypto world has been shaken once again by yet another high-profile fraud case, this time involving ZKasino, a decentralized gambling platform, and WhiteRock Finance, a DeFi project tied to the same web of deceit. 

At the center of the controversy is Ildar Ilham, a 21-year-old WhiteRock founder and known online as Prometheus, who has been arrested in the United Arab Emirates (UAE) over his alleged role in a $30 million crypto scam.

Let’s dive into the details of this ZKasino scam case and understand what it means for investors, platforms, and the broader DeFi ecosystem.

The ZKasino Scam

The ZKasino scam scandal started with the launch of ZKasino in April 2024. 

The project raised over $33 million from investors through a token presale. It promised users airdrops of native tokens and potential profit from gambling and DeFi integrations. 

However, things quickly took a turn when contributors noticed their funds were being staked on Lido Finance, instead of being used as advertised, or returned. As time passed with no airdrops or transparency, accusations of fraud started surfacing. 

The Dutch authorities eventually arrested a 26-year-old suspect in April 2025, believed to be Elham Nourzai, a crypto influencer deeply involved with ZKasino. Charges included fraud, money laundering, and embezzlement.

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Ildar Ilham: Whiterock Founder  

The case took a dramatic twist in July 2025 when Ildar Ilham, the WhiteRock founder, was arrested in the UAE following an Interpol Red Notice issued on March 6. 

On-chain investigator ZachXBT had long been pointing fingers at Ilham for being part of the ZKasino rug pull, citing blockchain transaction links and even shared email addresses between the projects.

Now in custody, Ilham is set to be extradited to the Netherlands, where he will stand trial alongside others connected to the ZKasino scam scandal.

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Details of the ZKasino Scam Case

1. Commingled Funds

Blockchain evidence reveals stolen funds from ZKasino were mixed with WhiteRock’s marketing wallet. This suggests deeper collaboration or fund movement between both projects.

2. False Claims and Exaggerated TVL

WhiteRock’s website claims over $150 million in Total Value Locked (TVL), but these figures can’t be verified on any trusted data platforms.

3. Token Manipulation

The native token WHITE launched in November 2024 at a $30M market cap. It soared to a massive $2 billion market cap in June 2025, raising suspicions of artificial inflation.

Following Ilham’s arrest, WHITE crashed over 40% in a single day, dropping from $0.0006582 to $0.0003909.

4. Community Warnings Ignored

ZachXBT had previously labeled the team behind ZKasino as “proven bad actors” in 2023. Despite these warnings, some exchanges still listed WHITE, which ZachXBT has now urged them to delist.

Read Also: Anonymous Crypto Casinos with No KYC in 2025

Conclusion

The ZKasino scam and WhiteRock founder arrest highlight the darker side of decentralized finance. Projects can skyrocket in market value overnight, but when transparency and integrity are missing, so is investor safety. 

The fact that $30 million in funds were misused, combined with manipulated data and shady team histories, should serve as a wake-up call for the entire crypto community.

As regulatory bodies ramp up their investigations and arrests like Ilham’s make headlines, it's becoming clearer: due diligence is more important than ever before investing in DeFi.

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FAQ

What is the ZKasino scam?

ZKasino raised over $30 million in 2024 by promising users token airdrops and rewards. Instead, the funds were allegedly misused and staked elsewhere, with no returns to contributors.

Who is Ildar Ilham?

Ildar Ilham, aka Prometheus, is the 21-year-old founder of WhiteRock Finance. He has been arrested in the UAE for his suspected involvement in the ZKasino scam.

What happened to the WHITE token?

Following Ilham’s arrest, the value of the WHITE token crashed by over 40%. Despite previously reaching a $2B market cap, it now trades at significantly lower levels.

How is WhiteRock connected to ZKasino?

Blockchain analysis revealed shared wallets, email addresses, and fund transfers between ZKasino and WhiteRock, suggesting both projects were linked behind the scenes.

Should I still invest in DeFi projects?

DeFi remains a powerful innovation, but this case shows the importance of researching teams, verifying claims, and avoiding hype-driven investments. Always check for transparency and independent audits before participating.